Singapore’s base oils exports to India rose in September to the highest in more than four years ahead of a seasonal pick-up in demand from the end of the third quarter.Base oils exports of 33,000t to India in September rose from 26,400t the previous month, government data showed. The volume was the highest since first-half 2019.Exports rose by 71pc and for a second month from year-earlier levels. The rebound in shipments followed a slump in supplies for four months to July.The rise in shipments contrasted with a fall in Singapore’s total base oils exports to a five-month low in September mostly because of a slump in exports to China.The rise in exports to India would coincide with a seasonal rise in the country’s demand following the end of the monsoon season.Demand gets a further boost during a wave of festivals during the fourth quarter of the year.The higher exports coincided with a sharp slowdown in arbitrage shipments from the US to India from September.The trend increased Indian buyers’ reliance on supplies from Asia-Pacific to cover more of their requirements..Singapore’s Sept base oils exports fall
Singapore’s base oils exports to India rose in September to the highest in more than four years ahead of a seasonal pick-up in demand from the end of the third quarter.Base oils exports of 33,000t to India in September rose from 26,400t the previous month, government data showed. The volume was the highest since first-half 2019.Exports rose by 71pc and for a second month from year-earlier levels. The rebound in shipments followed a slump in supplies for four months to July.The rise in shipments contrasted with a fall in Singapore’s total base oils exports to a five-month low in September mostly because of a slump in exports to China.The rise in exports to India would coincide with a seasonal rise in the country’s demand following the end of the monsoon season.Demand gets a further boost during a wave of festivals during the fourth quarter of the year.The higher exports coincided with a sharp slowdown in arbitrage shipments from the US to India from September.The trend increased Indian buyers’ reliance on supplies from Asia-Pacific to cover more of their requirements..Singapore’s Sept base oils exports fall
